August Secures $7 Million to Enhance AI Solutions for Midsize Law Firms

August, an AI platform tailored for midsize law firms, has raised $7 million in a funding round led by NEA and Pear VC, with strategic participation from leading law schools and investors such as Gokul Rajaram and David Azose from OpenAI, announced in a press release. The platform, previously known as VecFlow, offers configurable AI workflows that adapt to each firm's specific tasks.

August's technology aims to streamline document-heavy tasks like contract review and due diligence, allowing firms to adopt alternative billing methods and enhance efficiency. The platform's modular AI agent orchestration framework emulates attorney thought processes, ensuring accuracy and quality in legal work. Deployments can run securely behind firms' internal firewalls to meet data-residency requirements.

The company, founded in 2023 by Rutvik Rau, Thomas Bueler-Faudree, and Joseph Parker, plans to use the new funding to expand its team. August's services have already shown significant impact, with firms like Hicksons in Australia and ELP in India reporting substantial time savings and cost reductions.